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Saturday, July 12, 2008

Even Mises Could Be Conned by Governments

He says so himself on page 780 of the Scholar's Edition of Human Action:

In dealing with the problems of the gold exchange standard all economists--including the author of this book--failed to realize the fact that it places in the hands of governments the power to manipulate their nations' currency easily.

6 comments:

  1. And even Mises thought it possible to try to change laws to reduce externalities:

    “It is true that where a considerable part of the costs incurred are external costs from the point of view of the acting individuals or firms, the economic calculation established by them is manifestly defective and their results deceptive. But this is not the outcome of alleged deficiencies inherent in the system of private ownership of the means of production. It is on the contrary a consequence of loopholes left in this system. It could be removed by a reform of the laws concerning liability for damages inflicted and by rescinding the institutional barriers preventing the full operation of private ownership.”

    http://mises.org/humanaction/chap23sec6.asp


    http://mises.org/Community/blogs/tokyotom/archive/2007/10/11/draft.aspx

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  2. What did Mises think about stalking?

    ReplyDelete
  3. Dunno, but I suppose that if he had a blog he'd probably welcome some if the comments were interesting, not obnoxious and helped to add traffic.

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  4. ROFL at exchange. :-D

    Bob is acting like Stephan Kinsella: equating "posting criticism in public forums" with stalking. To complete the pattern now, he has to send TokyoTom lewd messages and threaten to reveal information he's found about him.

    You up for it, Bob?

    ReplyDelete
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